Self-filing taxes is better than giving preparers a pay day

By self-filing, a person can save time and cash by not giving a preparation service a pay day. Image from Wikimedia Commons.

A lot of people might be better off self-filing their taxes instead of giving a preparation service a pay day. It is not difficult, and most people can file electronically for free through numerous avenues. It is a good way to gain self sufficiency and save some money during tax season.

Cut the middleman and save money by self filing

Soon enough, the tax filing deadline of April 18 will be here. A lot of people take their tax returns to a tax preparation service, such as H&R Block, and a preparer fills out and submits an income tax return for them. The majority of Americans, from Alabama to Alaska, use a professional preparer, as about 60 percent of all returns are done by a preparation service annually, according to USA Today. Unless a person has a laundry list of itemized deductions to make, a lot of Americans really don’t have to give preparers a pay day and could be saving instant cash by self preparing. That said, people with complex returns should have their returns prepared by a professional. However, someone with only a 1040 EZ or 1040A likely doesn’t need to worry.

E-file for free

The Internal Revenue Service has an entire page dedicated to E-file services, many of which are available completely free of charge for people with an Adjusted Gross Income less than $58,000. There are numerous tax software companies, including TaxSlayer and TurboTax, that allow a person to file a free federal return, and free software for preparing a return through numerous other companies. TaxAct and H&R Block both offer free home editions of their tax return software, though that means people won’t be able to get short term loans against their returns if they need them.

Direct deposit means faster dispersal

People who elect to receive their income tax return through direct deposit can expect to get it sooner than a person who chooses a paper check. That way, instead of having to check out Wheresmyreturn.com, taxpayers need only to check their account balances.